Trump trust bought millions in Meta, SpaceX in August
The trust that holds US President Donald Trump's assets bought millions of US dollars' worth of Meta and SpaceX securities in August, according to a document released on Thursday. Although the trust is managed independently, the thousands of trades made since the start of Trump's second term have drawn accusations of conflicts of interest. Many companies – notably SpaceX, with its US government…
In August, US President Donald Trump's trust purchased millions of dollars worth of Meta and SpaceX securities, according to a recently released document. While the trust operates independently, the numerous trades since the inauguration of Trump's second term have sparked accusations of potential conflicts of interest. Many of the companies in the trust's portfolio, such as SpaceX with US government contracts, could be directly impacted by the administration's decisions.
According to the filing submitted by the Office of Government Ethics (OGE), the trust bought anywhere between $5 million and $25 million worth of Meta shares, the parent company of Facebook and Instagram. On the other hand, SpaceX bonds, totaling between $1 million and $5 million, were also acquired by the trust. The trust also invested smaller amounts in three data center operators: CoreWeave, American Tower, and Cogent Communications, with the latter being the largest investment at $51,000 to $115,000.
Several technology companies, such as AI chipmaker Nvidia, which advises Trump on AI, and Microsoft, were also listed among the trust's investments. As in previous months, the trust was highly active in the markets, with a total of 517 transactions in August. The Meta purchases were by far the largest in the filing. The US president's assets are held in a trust managed by his son, Donald Trump Jr.
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